Almonty Industries Inc. acquired Beralt Ventures Inc. from Sojitz Tungsten Resources Inc. for 1.5 million.
Almonty Industries Inc. (TSXV:AII) agreed to acquire Beralt Ventures Inc. from Sojitz Tungsten Resources Inc for 1.5 million on December 29, 2015. Almonty acquired shares and debt of Beralt. Under the terms of the agreement, Almonty will acquire 100% stake in Beralt Ventures Inc. and also purchased 12.3 million of debt owed by Sojitz Beralt Tin & Wolfram (Portugal), S.A., a wholly-owned subsidiary of Beralt Ventures in exchange for cash payment of 1 million on closing and a promissory note in the amount of 0.5 million. Donald M. Dalik of Fasken Martineau DuMoulin acted as legal advisor to Sojitz Tungsten Resources and Douglas Bryce of Osler, Hoskin & Harcourt LLP acted as legal advisor to Almonty Industries.
Almonty Industries Inc. (TSXV:AII) completed the acquisition of Beralt Ventures Inc. from Sojitz Tungsten Resources Inc on January 6, 2016.